Loblaw Companies to acquire Lifemark Health Group
March 16, 2022
BRAMPTON, Ont. – Loblaw Companies Limited announced its wholly owned subsidiary, Shoppers Drug Mart has agreed to acquire Lifemark Health Group. Lifemark is a leading provider of outpatient physiotherapy, massage therapy, occupational therapy, chiropractic, mental health, and other ancillary rehab services through its more than 300 clinics across Canada.
Loblaw’s aims to help Canadians live life well. The acquisition of Lifemark adds to its growing role as a healthcare service provider, with a network of health and wellness solutions, accessible in-person and digitally.
“For the past 60 years, Shoppers Drug Mart has played an important role in the health and wellness of Canadians, providing convenient, seamless access to pharmacy and healthcare services in communities nationwide,” said Jeff Leger, president, Shoppers Drug Mart. “For Canadians who want to get well and stay well, pharmacy and physical therapy services go hand in hand. Shoppers and Lifemark together make the continuum of care easier for patients.”
Through the acquisition of Lifemark, Shoppers adds the leading provider in the $11-billion Canadian outpatient physiotherapy and rehabilitation market to its team of professionals working in pharmacies, medical clinics, and healthcare businesses, supported by the company’s digital PC Health offering. Together they create a network of thousands of individual healthcare professionals, with distinct but complementary expertise, operating in neighbourhoods coast-to-coast.
“We’re excited for this new chapter in Lifemark’s success story,” said Peter Stymiest (pictured), CEO at Lifemark Health Group. “Shoppers Drug Mart is a well-trusted, iconic Canadian brand, with an extensive local and virtual presence. By joining Shoppers, Lifemark will continue to grow as a national health and wellness network, reaching more Canadians who need access to care and advancing our shared vision to enrich the health of Canadians.”
The acquisition of Lifemark is subject to regulatory approvals and other customary closing conditions. The deal is expected to close in the second quarter of 2022.
About Loblaw Companies
Loblaw Companies Limited is Canada’s food and pharmacy leader, with a network of more than 2,400 corporate, franchised and associate-owned locations in communities across the country. Loblaw’s purpose – Live Life Well® – supports the needs and well-being of Canadians who make one billion visits each year to the company’s stores. Loblaw offers full-service pharmacies and a range of services like prescriptions, med checks, vaccinations, minor-ailment diagnoses, and nutrition consultations in more than 1,800 locations in 10 provinces and 2 territories, including in Shoppers Drug Mart, PharmaPrix, Loblaw pharmacy, DRUGStore Pharmacy and CENTRESante locations.
About Lifemark Health Group
Lifemark Health Group is a Canadian leader in community rehabilitation, workplace health and wellness and medical assessment services. With over 20 years of service excellence, Lifemark Health Group is a comprehensive and trusted health provider with 3 million patient visits annually, and employs over 5,000 highly trained clinicians, medical experts and team members. As Canada’s largest physiotherapy company, Lifemark is passionate about enriching the health of Canadians through movement. Lifemark’s commitment to health and wellness extends beyond patient care, to the entire team, as evidenced through an award-winning culture.